The Securities and Exchange Commission of Pakistan (SECP) has urged businesses to obtain fire and property insurance to protect their assets from unexpected damage and financial losses. The regulator highlighted the importance of insurance coverage during an awareness session organized in collaboration with the Rawalpindi Chamber of Commerce and Industry (RCCI).
The session was attended by business owners, traders, and industrialists, who discussed the financial risks associated with fire incidents and the need for effective risk management. Participants were informed that fire-related losses can extend beyond property damage to include business interruptions, lost income, and disruptions to livelihoods.
Representatives from the insurance industry explained different fire and property insurance products, available coverage options, key policy conditions, and the claims settlement process. The discussion covered protection for commercial buildings, machinery, equipment, and business inventory.
Participants were also briefed on Takaful as a Shariah-compliant alternative to conventional insurance. The session highlighted business interruption coverage and its role in helping companies recover financially after insured losses. An interactive question-and-answer session allowed attendees to raise concerns about insurance products, coverage, and claims procedures.
The SECP said the awareness initiative is part of its efforts to increase insurance adoption among businesses, particularly small and medium-sized enterprises (SMEs). The regulator aims to encourage stronger financial preparedness and help businesses protect their assets and maintain operations following unexpected incidents.
